Thinking of retiring abroad?

 

More and more of us are planning to spend our retirement in a different country. The key attractions are usually the sun, the sea and an easier pace of living. 


There can also be financial advantages too:  Property may be less expensive, the cost of living could be lower and the taxes you pay might be less than in the UK (though tax treatment depends on the individual circumstances of each person and may be subject to change in the future).

 

If you are considering moving to another country, some of the key financial issues you ought to consider are:

    • What happens to your State pensions?
    • Can your private or company pensions be paid overseas?
    • Tax rates, cost of living, healthcare - how do these compare with the UK?


The last question suggests your choice is strictly rational: In practice, most of us are won over by the beauty of a country, the friendliness of its people and its climate. Whatever your motives, you should find out as much as possible about the implications of a move overseas, before you make a decision.


Check out our fact sheets on some of the most popular retirement destinations:

 

Australia

France

Italy

Spain

USA


Please note, this is a complex area and we recommend you seek professional advice before making a decision.


It’s important to take the time to consider all of these issues and others to make the right choice. Moving to another country to start your retired life can be an invigorating and rewarding experience, but it pays to do your homework first.

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